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jdsdaddy: Location was our number one factor we considered with price close behind.
I spend an inordinate amount of time surfing during the week and although places with more square footage and a cheaper price are available further inland I just don't see myself being happy out there.
:) Just heard from my RE that the listing agent was very excited about our offer and presented it to the seller last night! Should hear something Monday or Tuesday.
I have to say it's nice working with an actual seller on this one so far.
Good luck, I hope you get a awesome deal!!
My family loves to visit the beaches here in Northern California, especially the one in Capitola. It's truly a different lifestyle and one that I hope to achieve in my later years.
Hopefully for you, this will be one transaction that is to the benefit of both buyer and seller.
Good luck!
.
Strike Two!
We didn't end up getting it - unfortunately the place turned out to have a 41% owner / occupancy rate. Initially our LO told us the complex was FHA approved however we soon found out that only 2 of the 4 phases were approved.
Unfortunately until June 1st you can't get MI on a 97% LTV loan so we couldn't go that way either.
Is it unorthodox for a listing agent to be inquiring about financing? It was pretty frustrating to deal with this guy who kept second guessing us. We were looking for a "yes" or "no" - as far as our offer was concerned and it seemed to me like he was putting the cart before the horse asking us about our financing.
We would need 15% down in order to purchase the place with the low occupancy rate so we passed.
Still looking ... and saving.
Too bad that deal didn't work out Paw. These days everyone is more sensitive to financing - so many transactions don't close because the financing doesn't come through. And it's really part of a listing agents role to try and determine if the buyer is qualified and seems likely to be able to complete the transaction.
Ya, I realize you've gotta play the game in this market. We'll just keep saving and if the place is still on the market once we have 5% we'll make another offer on the place.
The search continues.
keep on saving
probably a blessing in disguise
houses getting cheaper
anyways
good luck
... and, it's free and anonymous
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Round 2 - FIGHT (second offer)
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OnePawUp
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Found another place my wife & I liked very much.
Turns out there was already another offer on the table but according to the conversation my RE had with the Listing Agent the first offer was a low ball that the sellers weren't happy with.
2b/1.5ba 1,000 sq ft Condo - I can be to the beach in < 10 mins!
Hoping for the best :)
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